Why should anyone worry about a credit score? I know many people who think that worrying about raising a credit score is so “Old School.” Many people think if they have a cell phone, pay their rent and lease a car, they must have “good” credit, but there is much more to this story!
Almost 49% of people polled don’t realize that a credit score measures credit risk. Do you know how a score affects your life? Do you know how to read a credit report?Why worry about my credit score? One reason: It is your responsibility to manage your credit, understand your credit score and know what’s being documented by businesses and institutions.

Your credit score is unique, much like your fingerprint. It identifies your risk & financial health and follows you everywhere. In fact, your credit score can fluctuate daily without you doing anything. Creditors report their data about you at different times during the month and depending on the data added to your report; your score will go up or down. It is not an exact science, and each credit company has its own scoring models that can differ from each one. So you could have a different score on Experian, Transunion, and Equifax. You can check your credit score here: https://www.creditkarma.com/

Thus, it is critical to worry about your credit score and check the pulse of your credit situation every six months or at least annually. You need to have good credit to function in the world. Contrary to many “quick-fixes” you may read about, the best way of increasing your credit score is good payment behavior over time and a healthy mix of credit types.

Here are a few things that your credit score determines:
• What kind of insurance rates you can receive
• If you can qualify for a home mortgage and at what rate
• Whether or not particular companies will hire you
• If you are eligible for an auto loan and at what rate
• What credit cards you can qualify for and if you will receive special rates or travel perks

Makes sense to schedule a summer check-up of your credit health today! Why worry about your credit score? It could save you tens of thousand of dollars when purchasing a home and getting the best credit cards with the most generous benefits!